My wife and I bought our house near a market peak, and were underwater with our house for many years, and we eventually paid off the mortgage in half the time by simply paying an extra $100 a month towards the principal.
I don’t really understand why people get upset about this. You live in the home. You are using it. You are paying the mortgage, and you negotiated for it and took it out.
This ‘trapped’ thing seems like a liberal construct to me.
Now imagine your boss announces that your job is being relocated to another state 500 miles away.
That is what "trapped" is all about. I agree that it's something of a liberal construct, but it's a real problem for people who may need to sell the home and move somewhere else for reasons completely out of their control.
I think the trapped idea comes from the flipper mentality. Americans got the idea that you don’t buy a house to live in you buy it as an investment and sell it after two years to move to a bigger one. My brother in law did that three times and now he’s in a funk because he can’t sell at a profit.
I think the trapped idea comes from the flipper mentality. Americans got the idea that you don’t buy a house to live in you buy it as an investment and sell it after two years to move to a bigger one. My brother in law did that three times and now he’s in a funk because he can’t sell at a profit.
I think the trapped idea comes from the flipper mentality. Americans got the idea that you don’t buy a house to live in you buy it as an investment and sell it after two years to move to a bigger one. My brother in law did that three times and now he’s in a funk because he can’t sell at a profit.